Germany?s Renk GmbH said on September 12, 2023 it planned an initial public offering (IPO) on the Frankfurt Stock Exchange in the year 2023 to fund expansion of its international operations and gain access to new financing options. It said the offering would comprise existing shares owned by Renk?s majority owner, private equity group Triton, which bought the company from carmaker Volkswagen three years ago. Renk did not say how many shares would be offered or how much of the company Triton would retain, saying only that the IPO would create a ?meaningful free float?.

Sources previously said that Renk could be valued at around EUR 2.5 billion ($2.7 billion) in a listing.